The global pen needles market is expected to reach $2.105 billion in
2019 from $1,283 million in 2014, growing at a CAGR of 10.4%.

The market is dominated by Europe, followed by North America, Asia, and
Rest of the World (RoW). Asia is expected to reach leadership position
in terms of the value by 2019.

Over the years, the pen needles market has witnessed various
technological advancements in order to cater to the growing demand of
safety injections in the healthcare industry. These advancements have
led to development of safety pen needles with an aim to reduce pain,
increase comfort, and most importantly reduce needlestick injuries
(NSIs).

The standard pen needles segment accounts for the largest share of the
global pen needles market, by type, while 6mm pen needles accounted for
the largest share of the pen needles market, by needle length. Insulin
therapy accounted for major share of the pen needles market, by therapy
in 2014.

Europe accounted for the largest share of the global pen needles market,
followed by North America, Asia, and the Rest of the World (RoW). In the
coming years, the pen needles market is expected to experience the
highest growth rate in the Asian region, with emphasis on India, China,
and Japan. These countries are expected to serve as revenue pockets for
pen needle manufacturers.

The global pen needles market is witnessing a high competitive intensity
as there are several big and many small firms with similar product
offerings. These companies adopt various strategies (new product
launches, acquisitions, and geographical expansions) to increase their
market shares and to establish a strong foothold in the global market.